European Group of Auditors’ Oversight Bodies (EGAOB)

The European Commission has set up a "European Group of Auditors' Oversight Bodies" (EGAOB). The Group will ensure effective coordination of new public oversight systems of statutory auditors and audit firms within the European Union. It may amongst others provide technical input to the preparation of possible measures of the Commission implementing the Directive on statutory audit, such as endorsement of the International Standards on Auditing or assessment of third countries' public oversight systems.

According to the Directive on statutory audit, the public oversight systems will have the ultimate responsibility for the oversight of:

• the approval and registration of statutory auditors and audit firms, and
• the adoption of standards on ethics, internal quality control of audit firms and auditing, and
• continuous education, quality assurance and investigative and disciplinary systems.

Press release (14.12.2005)

Commission decision (14.12.2005)
Full text available in all languages

Links to national public oversight bodies